Breaking: Court upholds Duke – Progress Energy merger

The state Court of Appeals has upheld the Utilities Commission’s approval of the Duke – Progress Energy merger in 2012, per an opinion released this morning.

Writing for the court, Judge Douglas McCullough said:

Where it is evident that the Commission considered the potential costs and risks of the merger and weighed them against the anticipated benefits, and where there is substantial evidence supporting the Commission’s findings and conclusions, we will not second guess the Commission’s determination that the merger is justified by the public convenience and necessity. Thus, we affirm the Commission’s approval of the merger in the merger order.